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Telefonica sells tower businesses in Europe, LatAm to American Tower

January 13, 2021


Spanish telecom operator Telefónica’s subsidiary Telxius Telecom has signed an agreement with American Tower Corporation (ATC) for the sale of its telecommunications towers businesses in Europe and Latin America.

Telxius has telecommunications towers in Spain, Germany, Brazil, Peru, Chile and Argentina.

Telefonica, which holds a 50.1% stake in Telxius, said that ATC will pay 7.7 billion euros ($9.4 billion) for the towers.

The agreement involves 30,722 telecommunication tower sites and covers two separate and independent transactions: One for the European division and another for the business in Latin America.

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